2 paragraphs Business plan and email

1. 1 paragraph and 1 work cited:
Imagine you are hoping to open a business – pick a business and then pick a location. In the context of chapter 7,what information would you need, how would you analyze it, and how would you make decisions. Again, some creativity is necessary for this question. Have fun with it!

2. 1 paragraph email in email format and 1 work cited:
You have just started a new job with a mid-size company as manager of the production department. When you asked for the budget for your department you were told that the company does not have a budget but that you must get all new expenditures approved by the president. All other expenditures are based on previous purchases and needs.

Compose a short email – 1 paragraph email to the president – proposing a budget process for your company and more specifically for your department.

ANSWER

Business plan

My business proposition would be to start a Fries and Chicken hotel in Chicago. There are several factors for starting a business as a potential business owner that would require research before venturing into the business and market. For instance, the funding and allocation is the most fundamental aspect for starting a business. As a business owner, I will be required to draw a business plan highlighting how much the business would need raw materials and contingent money if the business does not pick up as quickly as it was initially anticipated (Donnelly, 2017). Another aspect would be studying the market and understanding my competitor. This means evaluating a business that already sells fries and chicken and identifying its weakness. A good entrepreneur can manipulate the market gap left by his fellow competitors (Cooper & Kleinschmidt, 2011). I would also look into the required documentation for business to become legit. These documentations will be in line with the Chicago state while abiding by its federal rules. Lastly, an advertisement would also be crucial before the opening of my hotel. This means opening a website and promoting a ’coming soon’ campaign that will make consumers eager for the opening and launching of my business.

Email address:rafigatransitcompanies@yahoo.com

To: The President

From: Head of IT department

Cc: Other Departments

Subject: Proposed budget for the IT department

As the company undergoes an overhaul of revised budgetary transition, the IT department, which I lead, could use several additions. The overall budget required for the IT department would be $60,000. Of the many, $30 000 would be used to set up new types of equipment with a higher performance level. $15,000 would be used to set up new servers to cater to the whole company. $5,000 would be used for furniture and the required office layout. Any other miscellaneous will be catered for by the remaining $10,000.

References

Cooper, R. G., & Kleinschmidt, E. J. (2011). New products: The key factors in success. Marketing Classics Press.

Donnelly, G. (2017). 7 Important factors to consider before starting a business. Retrieved from https://startups.co.uk/strategy/7-important-factors-to-consider-before-starting-a-business/